Washington Powerboat Company Files For Bankruptcy Again

A popular Washington boat company that came out of bankruptcy nearly two years ago is now forced to file for it again, according to published reports.

Fountain Powerboats, which is based in Washington, filed for bankruptcy earlier this month in Florida for the second time in two years. The company listed more than $53 million in liabilities and less than $50,000 in assets according to court documents.

Liberty Associates bought Fountain Powerboats from Reggie Fountain after it went bankrupt the first time in 2009. The powerboat company was once a major employer in Beaufort County before filing for Chapter 11.

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